ICYMI – RBNZ Governor Orr Addresses Parliament – Defends Early Rate Hikes

The Governor of the Reserve Bank of New Zealand, Adrian Orr, appeared before the New Zealand Parliament, before the

Parliament’s Finance and Expenditure Select Committee on Thursday morning (05 May 2022).

Despite being well ahead of many other central banks in raising rates, Orr was asked if the Bank is slow to react to inflation risks.

  • Said the RBNZ was ‘brave’ to start tightening monetary policy ahead of many of its peers

As well:

  • Being too out of step with others in terms of monetary policy carries risks.

  • It’s business as usual in monetary policy.

  • We do not see stagflation as a major risk.

  • We will reduce economy by increasing OCR.

NZD/USD jumped on the FOMC and Powell presser and hasn’t done much since:


Not all news on the site expresses the point of view of the site, but we transmit this news automatically and translate it through programmatic technology on the site and not from a human editor.
Back to top button